<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 876613
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 COLUMBIA BALANCED FUND, INC.
001 B000000 811-6338
001 C000000 5032223600
002 A000000 1301 SW FIFTH AVENUE
002 B000000 PORTLAND
002 C000000 OR
002 D010000 97201
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 MONTGOMERY SECURITIES
020 B000001 941701676
020 C000001 56
020 A000002 LEHMAN BROTHERS
020 B000002 132518466
020 C000002 46
020 A000003 FIRST BOSTON CORP. (THE)
020 B000003 135659485
020 C000003 29
020 A000004 MORGAN STANLEY & CO.
020 B000004 132655998
020 C000004 27
020 A000005 GOLDMAN, SACHS & CO.
020 B000005 135108880
020 C000005 26
020 A000006 SMITH BARNEY, SHEARSON
020 B000006 131912900
020 C000006 19
020 A000007 PAINE WEBBER, INC.
020 B000007 132638166
020 C000007 17
020 A000008 MERRILL LYNCH, PIERCE
020 B000008 135674085
020 C000008 17
020 A000009 AUTRANET, INC.
020 B000009 132961507
020 C000009 11
020 A000010 DONALDSON, LUFKIN & JENRE
020 B000010 132741729
<PAGE> PAGE 2
020 C000010 11
021 000000 343
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 135108880
022 C000001 64135
022 D000001 49272
022 A000002 SALOMON BROTHERS, INC.
022 B000002 133082694
022 C000002 47777
022 D000002 25521
022 A000003 BEAR, STEARNS & CO.
022 B000003 133299429
022 C000003 42306
022 D000003 28328
022 A000004 MORGAN STANLEY & CO.
022 B000004 132655998
022 C000004 23038
022 D000004 18771
022 A000005 MERRILL LYNCH, PIERCE
022 B000005 135674085
022 C000005 27935
022 D000005 11093
022 A000006 PRUDENTIAL-BACHE SECURITIES
022 B000006 222347336
022 C000006 10449
022 D000006 9913
022 A000007 GREENWICH CAPITAL MARKETS
022 B000007 133172275
022 C000007 10135
022 D000007 9684
022 A000008 SMITH BARNEY, SHEARSON
022 B000008 131912900
022 C000008 12116
022 D000008 5286
022 A000009 DONALDSON, LUFKIN & JENRE
022 B000009 132741729
022 C000009 5579
022 D000009 8594
022 A000010 SANDLER, O'NEILL & PARTNERS
022 B000010 133481277
022 C000010 3314
022 D000010 10735
023 C000000 285427
023 D000000 206711
024 000000 Y
025 A000001 MORGAN STANLEY
025 B000001 132655998
025 C000001 E
025 D000001 4785
025 A000002 MORGAN STANLEY
025 B000002 132655998
<PAGE> PAGE 3
025 C000002 D
025 D000002 1999
025 A000003 GOLDMAN SACHS & CO.
025 B000003 135108880
025 C000003 D
025 D000003 3067
025 A000004 BEAR STEARNS
025 B000004 133299429
025 C000004 D
025 D000004 916
025 A000005 MORGAN (JP) SEC.
025 B000005 133224016
025 C000005 E
025 D000005 4079
025 D000006 0
025 D000007 0
025 D000008 0
028 A010000 29723
028 A020000 0
028 A030000 0
028 A040000 11439
028 B010000 27090
028 B020000 0
028 B030000 0
028 B040000 4649
028 C010000 22155
028 C020000 4188
028 C030000 0
028 C040000 14948
028 D010000 16041
028 D020000 0
028 D030000 0
028 D040000 12078
028 E010000 21031
028 E020000 0
028 E030000 0
028 E040000 8227
028 F010000 11628
028 F020000 5159
028 F030000 0
028 F040000 12545
028 G010000 127668
028 G020000 9347
028 G030000 0
028 G040000 63886
028 H000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
<PAGE> PAGE 4
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
071 A000000 415639
071 B000000 327742
071 C000000 521191
071 D000000 63
072 A000000 6
072 B000000 8711
072 C000000 2705
072 D000000 0
072 E000000 0
072 F000000 1348
072 G000000 0
072 H000000 53
072 I000000 148
072 J000000 26
072 K000000 31
072 L000000 21
072 M000000 3
072 N000000 44
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 12
072 S000000 1
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 16
072 X000000 1703
072 Y000000 0
072 Z000000 9713
072AA000000 33489
072BB000000 3939
072CC010000 0
072CC020000 16091
072DD010000 9495
072DD020000 0
072EE000000 0
073 A010000 0.3500
<PAGE> PAGE 5
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 20664
074 C000000 0
074 D000000 263757
074 E000000 0
074 F000000 291139
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 7014
074 K000000 0
074 L000000 5002
074 M000000 0
074 N000000 587576
074 O000000 12832
074 P000000 234
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 937
074 S000000 0
074 T000000 573573
074 U010000 27844
074 U020000 0
074 V010000 20.60
074 V020000 0.00
074 W000000 0.0000
074 X000000 24724
074 Y000000 0
075 A000000 0
075 B000000 538581
076 000000 0.00
077 A000000 N
078 000000 N
SIGNATURE GEORGE HANSETH
TITLE SR. VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED SEMI-ANNUAL REPORT OF THE COLUMBIA FUNDS DATED 06/30/96, AND THE
AUDITED ANNUAL REPORT OF THE COLUMBIA FUNDS DATED 12/31/95, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000876613
<NAME> COLUMBIA BALANCED FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 519,104,578
<INVESTMENTS-AT-VALUE> 554,895,339
<RECEIVABLES> 12,016,212
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 20,664,470
<TOTAL-ASSETS> 587,576,021
<PAYABLE-FOR-SECURITIES> 12,831,818
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,171,435
<TOTAL-LIABILITIES> 14,003,253
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 507,781,996
<SHARES-COMMON-STOCK> 27,843,969
<SHARES-COMMON-PRIOR> 24,241,479
<ACCUMULATED-NII-CURRENT> 428,990
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 29,571,021
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 35,790,761
<NET-ASSETS> 573,572,768
<DIVIDEND-INCOME> 2,704,882
<INTEREST-INCOME> 8,710,592
<OTHER-INCOME> 0
<EXPENSES-NET> (1,702,853)
<NET-INVESTMENT-INCOME> 9,712,621
<REALIZED-GAINS-CURRENT> 29,549,682
<APPREC-INCREASE-CURRENT> (16,091,089)
<NET-CHANGE-FROM-OPS> 23,171,214
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9,494,713)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,275,229
<NUMBER-OF-SHARES-REDEEMED> (3,130,312)
<SHARES-REINVESTED> 457,573
<NET-CHANGE-IN-ASSETS> 86,805,275
<ACCUMULATED-NII-PRIOR> 211,082
<ACCUMULATED-GAINS-PRIOR> 21,339
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,348,481
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,702,853
<AVERAGE-NET-ASSETS> 538,580,589
<PER-SHARE-NAV-BEGIN> 20.08
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> .51
<PER-SHARE-DIVIDEND> .35
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.60
<EXPENSE-RATIO> .63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
